Gold futures up 0.35% on firm global cues

Gold futures prices today rose by 0.35% to Rs 27,500 per 10 grams as speculators enlarged positions, largely in tune with a firming trend overseas as US economic data backed the case for sustained monetary stimulus.

Gold futures prices today rose by 0.35% to Rs 27,500 per 10 grams as speculators enlarged positions, largely in tune with a firming trend overseas as US economic data backed the case for sustained monetary stimulus.

HT Image

At the Multi Commodity Exchange, metal prices for delivery in August gained Rs 96, or 0.35%, to trade higher at Rs 27,500 per 10 gm in a turnover of 2,823 lots.

Similarly, the metal prices for delivery in far-month October edged up by Rs 94, or 0.34%, to Rs 27,499 per 10 gm, clocking a business volume of 599 lots.

Analysts attributed gains in the precious metal at futures trade to a firm trend in overseas markets as US economic data backed the case for sustained monetary stimulus, boosting appeal of the precious metal as a safe haven investment.

Globally, gold rose by 0.60%, to $1,341.20 an ounce in Singapore today.